Snowsport Scotland Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC095587 (Scotland)

Financial Statements For The Year Ended 31 March 2020

for

Snowsport Scotland Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

K Munro

Dr R W Glasse Davies

N D H Farish

E G Anderson

A R M Clyde

F Musgrave

R Hutchison

T Wilson

A Lee-Bapty

G Campbell

REGISTERED OFFICE:

Caledonia House

Redheughs Rigg

South Gyle

Edinburgh

EH12 9DQ

REGISTERED NUMBER:

SC095587 (Scotland)

ACCOUNTANTS:

Robb Ferguson

Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

6,165

6,157

CURRENT ASSETS

Stocks

10,320

7,439

Debtors

5

45,585

28,336

Cash at bank and in hand

87,105

116,808

143,010

152,583

CREDITORS

Amounts falling due within one year

6

45,958

54,498

NET CURRENT ASSETS

97,052

98,085

TOTAL ASSETS LESS CURRENT LIABILITIES

103,217

104,242

RESERVES

Income and expenditure account

103,217

104,242

103,217

104,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2020 and were signed on its behalf by:

K Munro - Director

1.	STATUTORY INFORMATION

Snowsport Scotland Limited is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Development resources

-

33.33% on cost

Furniture and equipment

-

33.33% on cost

Software

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Current or deferred taxation assets and liabilities are not discounted.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Capital grants and donations

Grants are treated as deferred income with a portion being released to revenue annually in accordance with the expected lives of the relevant assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Furniture

Development

and

resources

equipment

Software

Totals

£

£

£

£

COST

At 1 April 2019

4,169

30,386

10,257

44,812

Additions

-

-

3,063

3,063

At 31 March 2020

4,169

30,386

13,320

47,875

DEPRECIATION

At 1 April 2019

3,935

25,878

8,842

38,655

Charge for year

234

1,426

1,395

3,055

At 31 March 2020

4,169

27,304

10,237

41,710

NET BOOK VALUE

At 31 March 2020

-

3,082

3,083

6,165

At 31 March 2019

234

4,508

1,415

6,157

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

33,724

21,281

Prepayments and accrued income

11,861

7,055

45,585

28,336

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

23,525

7,552

Tax

11

13

Accruals and deferred income

22,422

46,933

45,958

54,498

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

14,671

20,031

Between one and five years

11,003

25,890

25,674

45,921

8.	LIMITED BY GUARANTEE

Every member of Snowsport Scotland Limited undertakes to contribute such amount as may be required (not exceeding £1) to Snowsport Scotland Limited's assets if it should be wound up while he is a member or within one year after he ceases to be a member.

9.

FUNDS

Opening

Surplus /(Deficit)

Closing

£

£

£

John Hynes Memorial Fund

7,749

-

7,749

General Fund

71,897

1,975

73,872

Special Member's Fund

24,596

(3,000

)

21,596

Total

104,242

(1,025

)

103,217